Perpetual Energy Inc. (TSE:PMT) shares dropped 3.6% on Wednesday . The company traded as low as C$0.75 and last traded at C$0.80. Approximately 15,000 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 59,231 shares. The stock had previously closed at C$0.83.
PMT has been the subject of a number of analyst reports. TD Securities raised their target price on shares of Perpetual Energy from C$1.35 to C$1.65 and gave the company a “hold” rating in a research report on Tuesday, November 14th. GMP Securities raised their target price on shares of Perpetual Energy from C$2.05 to C$2.10 in a research report on Monday, November 13th. Finally, Royal Bank of Canada decreased their target price on shares of Perpetual Energy from C$1.50 to C$1.25 and set a “sector perform” rating for the company in a research report on Monday.
The stock has a market capitalization of $49.56, a P/E ratio of -4.71 and a beta of 1.04.
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About Perpetual Energy
Perpetual Energy Inc (Perpetual) is a Canada-based oil and natural gas exploration and production company. The Company is engaged in finding, developing, producing and marketing natural gas, natural gas liquids (NGL), oil and bitumen. Perpetual’s business consists of operations in Alberta focused on exploring and developing the natural gas and NGL resource opportunities in the deep basin in west central Alberta; the exploration for and extraction of heavy oil in eastern Alberta; the development and production of shallow natural gas from mature producing regions in eastern Alberta; bitumen opportunities in northeast Alberta, and interest in a commercial gas storage business through the operation and ownership in a gas storage facility at Warwick in east central Alberta.
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